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Fifth Third Bancorp to redeem $10M of trust preferred securities
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Fifth Third Bancorp intends to redeem on Sept. 23 all the outstanding trust preferred securities issued by MB Financial Capital Trust III. The outstanding principal balance is $10 million.
The redemption price will be $1,000 per security, which reflects 100% of the liquidation amount, plus accrued and unpaid distributions to the actual redemption date of $9.71 per security. The redemptions will be funded with available cash.
Wilmington Trust is the redemption or paying agent for the securities.